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Proceedings of the ... annual meeting of the stockholders of the Atlantic & North Carolina R.R. Co.

Proceedings of the ... annual meeting of the stockholders of the Atlantic & North Carolina R.R. Co.

PROCEEDINGS
OF THE
THIRTY-SIXTH ANNUAL MEETING
OF THE
STOCKHOLDERS
OF THE
tic fl
HELD AT
MOREHEAD CITY, N. C.
Thursday, Amg. 21st, 1890.
GOLDSBORO, S. C-:
ARGUS POWER JOB PRESSES,
1890.
PROCEEDINGS
OF THE
THIR1Y-SIXTM ANNUAL MEETING
OF THE
STOCKHOLDERS
OF THE
HELD AT
MOREHEAD CITY, N. C.
Thursday, Aug. 21st, 1890.
GOLDSBORO, X. C:
ARGUS POWER JOB PRESSES,
1890.
*K
Digitized by the Internet Archive
in 2011 with funding from
Ensuring Democracy through Digital Access (NC-LSTA)
http://www.archive.org/details/proceedingsofann1890atla
PROCEEDINGS
OF THE
THIRTY-SIXTH ANNUEL MEETING
OF THE
STOCKHOLDERS OF THE A. & N. C, R, R. CO,
Mokehead City, N. C, Aug. 21st, 1890.
The 36th Annual Meeting of the Stockholders of the At-lantic
& North Carolina Railroad Company, held at Morehead
City on the third Thursday in x\ugust (21st) 1890, was tem-porarily
organized by the election of W. T. Caho as Chairman,
and J. J. Eoyal as Secretary.
It was moved by J. Henry Davis and carried, that owing to
the absence of a majority of the Proxy Committee, that the
meeting take a recess until 3 o'clock, p. m.
3 o'clock p. m.
The meeting assembled pursuant to adjournment, W. T.
Caho in the chair.
The Proxy Committee through its chairman, W. L. Arendell,
made the following report
:
" While the State of North Carolina is present by Proxy, the
Committee will not be able to report to-day on account of the
absence of a large amount of private stock not being verified,
and therefore we ask for an adjournment to some day fixed by
the stockholders."
Upon motion the meeting adjourned to meet in Morehead
City on Wednesday, August 27th, at 12 o'clock, m.
Morehead City, N. C, Aug. 27th, 1890.
12 o'clock, m.
The meeting assembled pursuant to adjournment', W. T.
Caho in the Chair.
. ft
The Proxy Committee not being ready to report, upon mo-tion
of W. S. Chadwick, the meeting adjourned until 1 o'clock,
p. m.
1 o'clock, p. m.
Meeting assembled pursuant to adjournment.
The Committee on Proxies through its chairman, W. L.
Arendell, made the following report which, upon motion of
Clement Manly, was received and adopted, viz :
" To the Officers, Directors and Stockholders of the Atlantic &
North Carolina Railroad Company :
Gentlemen—We, the Proxy Committee appointed by your
Honorable body, respectfully report after careful consideration
that the number of shares of stock represented at this meeting
is 17,806. That the requisite number to a majority is 8,313.
That the number of shares entirely represented individually
and by Proxv are as hereto attached, and filed as a part of this
report. All of which is respectfully submitted.
Signed, W. L. Arendell,
J. W. Pridgen,
Owen H. Guion,
L. E. Duffy,
J. H. Davis.
STOCKHOLDERS :
aKw
a
CO
H
•te)
CO
fa*
K
td
fed W
by previous management. )
" " Legal Expenses, 1,292 30
$546 69 paid after Sept. 12th, due\
by previous management. >
" " " Section, Road and Bridge Hands, . . 18,970 10
$21 00 paid after Sept. 12th, due {
by previous management. j
" Shops, 17,555 47
$39 30 paid after Sept. 12th, due {
by previous management. )
" Station Agents and Hands, 12,059 98
$129 62 paid after Sept. 12th, due {
by previous management. J
" " " Passenger and Freight Train Hands, 3,402 44
" " " Blanks, Stationery and Printing,.. . 1,130 14
301 52 paid after Sept. 12th, due j
by pi-evious management. J
" General Officers, 5,100 00
" " " Directors, Finance Committee, &c, 715 00
" " " Loans(dueby previous management) 13,270 68
" " " Interest on Loans, (due by previous
management), 1,896 68
" Steel Rails 2,429 79
" " " Current Vouchers 41,567 03
$8,076 32 paid after Sept. 12th, due }
bj- previous management. \
" Balance, 9,802 71
$165,361 76
LIST OF OFFICEBS AND EMPLOYEES
OF THE
Atlantic & North Carolina Railroad Company,
30th JUNE, 1890.
Per annum.
W. S. CHADWICK, President, $1,800 00
F. C. ROBERTS, Secretary and Treasurer, 1,200 00
Per Mo.
S. L. DILL, Auditor, G. F. & P. Agent and Supt. Trains,.
W. K. STYRON, Assistant Auditor,
W. S. Chadwick. Director appointed by the State, ")
Thos. D. AVebb,
W. G. Brinson,
P. M. Pearsall,
A. C. Davis,
J. W. Grainger,
W. T. Caho,
Chas. Dewey,
P. F. Faison,
j. m. morehead,
Arnold Borden,
E. H. Meadows,
John C. Wooten, Sr.
T. H. Mallison,
Thomas Daniels,
C. H. Foy,
I. S. D. Sauls,
elected by the Stockholders,
(Chairman) Finance Committee.
$ 100 00
75 00
Pay of
Directors
and Finance
Committe
f5 per day
attending
meetings.
J
Per Mo.
W. G. Boyd, Tkt. Agt. at Newbern, Tr. Dispatcher and Tel. Op. $ 60 00
Basil Manly, Master Machinist 100 00
E. K. Bryan, Agent at Newbern, 75 00
N. C. Hughes, Asst. " 50 00
W.P.Powell, " " 10 00
J. M. Hollowell, Agent at Goldsboro, 75 00
J. H. White, Asst. " " " 40 00
G. C. Royall, Tkt. " " " 15 00
S.I.Sutton, " " LaGrange, "50 00
J. C. Wooten, Jr., " . " Kinston, 50 00
S. W. Chadwick, Asst. Agt. " and Telegraph Operator,.. 40 00
W. S. Bell, Jr., Agent at Newport, 10 00
J. E. Pigott, Tel. Op'r. " 5 00
W. A. Sanders, Agent at Morehead City, 50 00
A. H. Webb, Tkt. " & Tel. Opr. " 10 00
J. D. Whitford, Soliciting Agent 75 00
LIST OF OFFICERS AND EMPLOYEES.
J. A. Hadley, Tkt. Agt. at Best's, 10 f) ct. on Tkt. sales & Ft. Receipts.
B. F. Fields, " " F. Cr'k. " «»«*««
J.P.Kelly, !« "Caswell," " " " "
L. Hines, " " Dover, " " " " " " "
J. White, " " CoreCk." " " "
O. H. Wetherington, " " Tuscarora, " '' " "
J. S. Fisher, " " Riverdale, " " " "
J. H. Hunter, " " Havelock, " " " "
W. C. Murdoch, " " Wildwood, " " " "
Per Mo.
C. K. Hancock, Conductor Mail Train, $ 60 00
A. S. Willis, " Fr't. " 60 00
E. B. Royall, Baggage Master at Goldsboro, 10 00
Wm. Wigfall, " " " Newbern, 15 00
Y. Z. Newberry, " " on Mail Train, 20 00
O. C. McKinnie, Night Watchman at Goldsboro, 30 00
George Physic. " " " Newbern, 30 00
J.W.Hancock, " " "Shops ,30 00
W. L. Arrington, " " "
tMorehead City, 30 00
Per Diem.
J. B. Stanly, Sunday Watchman at Shops, 1 00
W. Smaw, " " "Newbern j» 100
Daniel AVade, " " " Morehead City, 75
Per Mo.
Cicero Duncan, Locomotive Engineer, $ 80 00
JohnS. Manly, " " 80 00
W.P.Marshall, " " 80 00
Per Diem.
F. L. Hunter, " " and Machinist, 2 62 & 2 25
Per Mo.
G. L. Case, " " 45 00
C. Mendenhall, Stationary Engineer, 25 00
J. R. Blake, Time and Store-keeper, 30 00
Per Diem.
W. R. Warters, Machinist, 2 35
W. W. Brinson, " 2 00
John R. Thomas, " and Moulder, 1 50 & 1 75
J. C. Scales, Blacksmith, 2 50
J. B. Taylor, Carpenter in Shops, 2 50
W. A. Gaskins, " " - 175
T.E.Marshall, " " " 175
A. W. Cook, " " " 175
Alex. McKay, " " " 160
D. R. Fulford, Pattern Maker, 1 75
LIST OF OFFICERS AND EMPLOYEES.
A. B. Powell, Road Master,
S. W. Howard, Foreman Bridge-hands, . .
.
Amos "Willis, Carpenter on Bridge force,
.
KeyssCox. " '• " " .
John Chadwick, " " " " .
James Wiggins, " " " " .
Alex. Murdoch, Section Master No. 1.
L. McCain,
3.
4,
Calvin Smith,
Needham Case,
F. W. White,
L. White,
J. F. Huggins,
W. R. Hinnant,
H. Hough, Bridge Keeper, Trent river
E. Coaker. " " Neuse "
A.O.Newberry, " " Newport River &Stat'n. hand
In addition to above, 85 hands are employed as Road-bam
hands, Station-hands, Firemen. Apprentices. Pump-hands
borers.
li
50
Per Ho.
80 00
Per Diem.
2 50
l ir
l
l
1 2.")
Per M.i.
85 00
Bo 00
3,1 00*
35 0(1
3.1 00
31 00
31 on
85 00
20 00
11 00
18 00
Is, Train
-
and La-
List of Stockholders of the Atlantic and North Carolina Railroad Company.
J^La,y 31st, 1890.
Abbott, S. II
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-A.TTIDIETOIS'S EEPOET.
Earnings from Transportation from July 1st, 1889, to June 30th, 1890.
Gold Bl I.A G ANGE. Fallini Creek, Kin TON. Caswell. Do Core IREBK. Tuso JERN. Bive DALE.
1 'as si iik's Freight. [-"ll^Sl-Mt^'s F eight. pQBseng'B. Freight. ['assent's. Freight. Pasm-ng's Freight. Passeng's. Freight, Passi-n^'s. Freight. PilSSl'llg's Freight. l'a.ssi'iig's Freight I'aSM'llg'K Freight, .Paaseug'a
( 138 00 $ 23 .hi
Freight.
ft 1.1 its 35 * 88 4.
r 8 237 201* 168 64 ft 84 4f ft 27 45 ft 521) 95 ft ;js;i .7.7 $ 19 30$ 13 03 Os t: .[.-, ;',:, B3 .' ft 50 41) 10 n 7 71
1,304 4-1 54 41 28 05 55 40 495 15 449 85 12 7(
2.211 W 25 3< 8 8< 59 77 335 4r OH* 74 9 or 31 91 01 38 41! Ii: 53 04 883 80 18 ".; 8 21
042 5C 1,401 113 39 7( 71 7C 088 05 513 62 38 85 58 i>2 39 in 2.S ill 1,0M7 DS 2u 1:
730 r,r 1.130 74 29 r,r 148 87 302 00 1«7 8B 17 or IS 54 1,127 4( 4( 13 :«] ' 48 0C 30 88 77 0: 85 Ofl in 7r 1 fiOU |5 22 it 13 31
8G H 37 86 5 7(i l.i)2:( !i-- r,sn s;i 55 59 71. l!2 N( 32 28 32 85 n 9r 2«:.i 4:1 U 45 39 1* ttOS ill 470 92 3 4< - 188 54 $ 7 259 57 ft 5,696 58 ft 08 IE ft 211.-, 07 ft 524 85'* 749 10 - 01.7 \r ft 501 07 - -ir,'. ;> 818,784 02 $12,171,8811$ 253 20 * 1::.' :.:
Earnings from Transportation—(Continued.)
Pilsseng's. Freight
2:1 4.1
10 0.7
61
IBS. uaiJ IlillEC
Freight.
Grand 'Cut
Paaaeng*! Freight,
. s Hill 111
736 32
'.M ill
5-11 ill
VII 114
ill 91
641 04
$ 06
40 01
* 1.U9-. 7D
80 00
52 58
l!l 17
| 6,055 Ml 1,885 ifl
% 0,508 28 ft 40 05 * 1.375 81 854,205 85l«04 010 71
MASTEE ZMEECEE-A-ISriCrS .EEEPOET.
Sir:—I re -pert I'll 11_ submit the follow ing Itt'i Mt Of work done antl expenses i cm-red it this Department, for tlie year ending June 30th, 1890.
Engines & Cars.
S J tJ
J i
1
t
1
j
J<8
-a
j
1
Ij
£
£•!
— REMARKS.
28,010
is*.4yi
i:i.H:-
7,220
:»).:!r,s
32, Id 7
512
023
WW
231
107
400
485
2,87!
107 § 41) 15
100. 58 00
102 30 78
7ft 25 00
78 21 03
17H r,i 71
107 52 73
17;;* 8 85
218 l" 85
118 5 00
00 4 80
83 4 15
100 8 00
174 8 70
1,017$ 50 85
* 77H 52
304 89
232 87
855 SI
US 54
vm;
218
1 .-.HI
027J
080
8,285i
8
5
000 -2A
;;:;s n.
2(17 7s
m;; -,!
OilO 80
Mir. s:
rm :«
225 5(
. u;iu 3;
090 30
i
:
!-,! ol \\\ tair'.-rder."
In good order,
No. 2 146 79
30 2f,
40 IIS
45 04
224 9£
520 m
304 80
431 85
217 20
l.OMf, (V.
Total, ]ii:,.7Ks $ 4,224 71 x 5,11-2 04 * 13,008 10 •
CARS \NI> Slldl's.
PasB. & Bug. Curs '
Freight Cars ....
| New Freight Cars
C, C. & Inspecting
Fuel & L. for Cine,
Total, il
Shops |
040 88 1,737 42
21 80 040 00
t of Material and Labor U3sd in this Dent, :
Fi-otfs ami Swiulms, Kua.l lk'|iam
ili*[nil lininiiils ami HuiMiugis, , . . ,
ltriil!.-i.'s ami Ti.-Ml.-s
1,737 42
040 00
i.-,H 2(i 10,2Mli '.'1
Cost of Motive Power
Cost of Cars,
Tost of Repairs mi R, & P. Cars damaged liy lii
Coat of Rented Cars
Road Department. Hii.l^i-^ ami Trestles, Frngs and Switches,
II. mil ami 1'nli' i ai>. i
Fuel and Lights
TiKt uf Ui'iiifil Cars.
*27,3!i0 84
BASIL MANLY, M. M.
Atlantic &' North Carolina Railroad Company,
MASTER MECHANIC'S OFFICE,
New Bern, N. C, July 1st, 1890.
W. S. Chadwick, Esq.,
Prest. A. & N. C. R. R. Co.
Dear Sir :
Below find Statement of Locomotive and Cur Perform-ances
on this Road for the year ending June 30th, 1890.
Yours Respectfully,
Basil Manly,
Master Mechanic.
o a
> o
(S .on • 3 *= SP
&o £ .5
"Z s* ~ c
° E.-S
IE 13
«s a
P-i c3
165,783 0,2089 2,3392 2,2310 3,4207 2,7567
PhU
it -
a * m a
7] oj
a m
a
?h a
a- -
CO
O O) o a
10,9565 50
a^
SO
o 3
. a
oo*
VS.'
Cost of Motive Power, .
Cost of Cars,
Cost of Road Dept'mt, Br. & Tr., Fr. & Sw. Hand Cars,
18,165 12
7,187 61
2,044 11
Total Cost, $ 27,396 84
Repair's of Patterns and Tools, Shop and Engine Houses, Shop Machinery, Superin-tendence,
Watchmen, Water and Wood Stations, Stationery, Fuel for Shops, &c.
tWood rated at $1.39 per cord.
§Two pounds of Tallow reckoned as one quart of Oil.
SYNOPSIS.
Engines
Are in fair condition. Engines 1, 2, 8 and 9 have been par-tially
overhauled,—Engines 1 and 2 having new tubes. En-gine
7 has been scrapped ; this leaves us with only six Engines in
service. Although the Engines now in service are in as good
condition as usual at this time of the year, the recent hard ser-vice
is telling upon them seriously, because they cannot be spared
from the road long enough to get the repairs they should have. I
don't think our present motive power is sufficient for the demand
of the road. One good freight engine would relieve us consider-ably
of the strain under which we are now laboring. The cost of
repairs on Engines for the twelve months is $3,878.24. Oils, grease
and wraste $346.49 ; fuel $4,570.43 ; wood and water stations
$311.38. This includes new water tank at New Bern, Engineers,
Firemen and Cleaners, $5,671.20. Total, $14,777.74.
Passenger, Baggage and Mail Cars
Are in good order. New baggage, express and mail car 13
which was near completion at the time of our last report, has
been finished and put on the road at an expense of $1,134.40.
One new excursion car has been built and cost complete $1,050.43.
We have the necessary material on hand for framing another of
the same kind. First-class coach No. 10 has been thoroughly
repaired and repainted, and we have material on hand sufficient to
paint three more coaches, which will be done as soon as they can
be spared from the road. Cost of repairs, oils, waste, etc.,
amounts to $2,404.14, car cleaning and inspecting $646.66. To-tal,
$5,235.73.
Freight Cars
Are in good order with the exception of some light repairs
needed and which are being done as fast as we can get to them.
MASTER MECHANIC'S REPORT.
We have 43 box, 2 fish, 7 coal and 37 platform ears and 5 shan*
ties ; 7 of the platform cars are only used for ditching and light
loads. One box car has been changed to shanty for bridge force
within the last year. We have made specifications and are now
getting the material for 6 box and 6 gondola cars of 40,000 lbs.
capacity. With a small increase of force we can build these cars
within the next year. They are needed badly. Total cost of ma-terial
and labor for repairs, oils, waste, etc., amounts to $1,943.02.
Shops.
The machinery, tools, patterns, etc., are in good condition. The
roof of the shop building is needing considerable repairs, which
should be clone as early as possible for the protection of the walls,
etc. I would advise that the parapet wall running around the shop
and above the eaves of the roof be taken off. The roof leaks badly
at the base of this wall, and I do not think it possible to entirely
stop the leaks and make a satisfactory job with the wall stand-ing.
The roof should be run over and project beyond the sides
of the building. WT
e have a part of the round house fixed in this
way, which was done several years ago, and it has never given us
any trouble. To take the Avail down and run the roof over as sug-gested
would cost about $900.00. This could be paid for in part
by the sale of the old brick taken from the wall, which would
amount to about $250.00. The total cost for repairs on shop
buildings, machinery, tools, patterns, fuel for shops, stores, wages
of master of machinery, time and storekeepers, stationary en-gineer,
watchmen, etc., amounts to $3,387.38.
A shelter should be provided at New Bern for the protection of
our passenger cars. They have to take all kinds of Aveather now,
and the paint and varnish becomes much damaged by the ex-posure.
A shed 250 feet long by 16 feet Avide will serve the pur-pose
and cost $550.00.
Basil Manly.
ROAD MASTER'S REPORT.
New Bern, N. C., August 10th, 1890.
W. S. Chadwick, Esq.,
Pres't. A. & N. C. R. R. Co.
Dear Sir:—I respectfully submit the following report of
Avork done on Bridges, Culverts, Cattle-guards, Depot grounds
and buildings for year ending, June 30th, 1890:
There was on hand June, 30th, 1889, 20,000 feet of timber for
Trent River bridge, and 3,000 feet for Trestles at Morehead City,
which have been worked in. There has been purchased this fiscal
year 181,082 feet of timber, which includes 34,104 feet of sawed
piling and 10,000 feet log piling, distributed as follows:
Bear Creek bridge, 7,404 feet.
Neuse River bridge, 10,391 "
Cabin Branch bridge, 1,512 "
Core Creek bridge, 5,71G "
Batchelor Creek bridge, 4,164 "
Red Hill bridge, 1,284 "
Trent River bridge, 25,426 "
Newport River bridge, 9,293 "
Hull Swamp bridge, 1,080 "
Warehouse at La Grange, 3,862 "
Warehouse at Kinston, 1,202 "
Warehouse and Wharf at New Bern, 26,321 "
Depot grounds and building at New Bern, 16,236 "
Depot and platform at Havelock, 2,787 "
Morehead City bulk-head 983 "
Truck platforms, 2,416 "
SAvitch timbers, 34,981 "
County road crossings and platforms, 4,417 "
Core Creek water-tank, 1,607 "
Total, 161,082 feet.
We have on hand for Trent River bridge, 20,000 "
Total, 181,082 feet.
ROAD MASTER'S REPORT.
Ill bridges where piles were driven, the spaces between bents
have been shortend half their former distance, making the bridges
doubly strong. Piles have been driven as follows : Bear creek
18, Neuse River 15, Cabin Branch 6, Core Creek 18, Batchelor
Creek 12, Bed Hill 6, Newport 21, Hull Swamp 3. Trent River
bridge has had extensive repairs; 45,426 feet of timber has been
worked into it, and there is on hand 20,000 feet which is being-worked
in daily. The warehouse and wharf at New Bern has
been extensively repaired. The wall plates around the entire
main building are new, many new sleepers have been put in, and
the floor thoroughly repaired. The platform in front of ware-house
is almost new, and the platform on East of pier entirely so;
25 piles have been driven around pier and wharf. The old* plat-form
on Congdon's side of warehouse was torn away and a new one
framed, and is now ready for covering as soon as the plank is
delivered. All bridges where piles have been driven were in-spected
and necessary repairs made. The platforms to ware-houses
at La Grange were made new and all necessary repairs
done. "Warehouses at Kiuston were repaired, and where the cot-ton
warehouse was so near main line as to endanger trains, it has
been cut off so as to be a safe distance. A new tank was built at
Core Creek costing $100, also at New Bern with brick wall and
improved appliances costing $204.15. To the passenger platform
was added a shed, 32 feet long, costing $100. The old well in
the park grounds was recently covered by a neat pavilion costing
$125.00. A new fence, 848 feet long, was built on West side of
depot grounds, which encloses all the Company's buildings ex-cept
general office and carpenter shop. This cost $225.00, which
includes three gates and lattice work on South side of passenger
depot. Tenant house (Howell) thoroughly overhauled at a cost
of $175.00.
A building was bought at Havelock and comfortably fitted up
as a passenger and freight depot as follows, viz : a room 10j x'17
was fitted up for ticket office and Avaiting room, also a room for
freight purposes 14i x 17. The platform in front of building-measuring
17x34 was built also from house to road crossing,
measuring 12 x 43. Cost of labor, building and material $175.72.
The bulk-head at Morehead City was sheeted to prevent un-
ROAD MASTER'S REPORT,
dermining. A neat house was built at Morehead City depot for
train men, dimensions 12x16. Contract.
The old platform at Cox's was repaired, and a new one built
on West side of track 16x48, costing $59.01. One-third of the
ties and guard rails on Trent Eiver bridge are being replaced,
and the other two-thirds will have to come out next year, so that
about 40,000 feet of timber will be needed for that purpose. As
per our inspection about 11,000 feet of timber is needed for brid-ges,
culverts and water tanks. A new crossing was built over
track at Goldsboro, enabling us to receive and discharge passen-gers
and baggage in front of hotel. Cost, labor and material
$148.48.
New -siding at Herring's 340 feet, $ 211 45
Siding at Kinston extended 300 feet, 174 65
New siding at Tillman's 325 feet, 214 75
" Water's extended 100 feet, 60 00
" Duffy's 450 feet, 242 12
" " Dover extended 300 feet, 157 00
Another switch has been added to Core Creek siding, \ -. „9 (
.
so that trains can enter at either end, 220 feet, ... J
New siding at Cox's 630 feet, 524 89
New track running to passenger depot at New Bern, 1 .. „ftn (
2,000 feet, J
i,6VV UU
Siding extended at Eiverdale 100 feet, 99 86
There has been put in track this year seven new spring steel
frogs, eighteen new rigid steel frogs, and a semaphore new cross-ing
for W. & "YV. at Goldsboro, consisting of four frogs bolted
together at a cost of $155.59. The ditching force was dispensed
with Oct. 9th, 1889, and the gravel train was put on to be man-aged
by section foreman where the work was being done. The
train and force was employed 56 days and time of men was 942!
days. One hundred and eighteen car loads of dirt was taken
out of Stony Creek cuts and put on street at Goldsboro, enabling
us to raise track six to eighteen inches, and now compares favor-ably
with tracks of other roads.
The cuts at Bear Creek and Falling Creek were cleared
out, and the sand used in the building of embankments and
road-bed, Avhere most needed, as far as it would go. One-aiid-
a-half miles of ditchino- was executed between Neuse Eiver
ROAD MASTER'S REPORT,
and Dover. The cut West of Batchelor's Creek, which has al-ways
given us so much trouble, was ditched, and sand put under
track from six to twenty inches ; since that time we have had no
trouble with track. The track on East side of Creek should be
similar to that on West side. Sand that we put under that por-tion
of track is beneficial, but the road-bed is so contracted that
sand washes in ditches and is lost. The track from Tuscarora
to within three miles of New Bern is laid on almost a continu-ous
clay foundation so that it is impossible to keep track in good
surface and line. There should be at least twelve inches of sand
or gravel put under it. The embankment at Newport River had
wasted away until the track was from one to twro feet lower than
bridges. One hundred car loads of sand has been hauled, and
now the track is raised nearly on a line with the bridges ; seventy-five
car loads of sand was put on embankment between Atlantic
Hotel and wharf. This portion of the road should have sub-stantial
improvements to prevent it from storms, as it is contin-ually
being washed away by the lashing of waves on the sand
bed. The bulk-head at Morehead City needs to be attended to,
as the worms will not let ordinary timber stay in place but a
short time.
Since cuts wrere cleared out I have had no trouble with track,
and in fact is now the best we have. In many places there were
two car loads of sand in a distance of 30 feet, in many places the
track was lower than what should have been ditches, so that the
water course was down track. 290 steel rails reported on hand
in report of 1889 have been used in laying track Y at New Bern •
and Goldsboro and from watertank to W. & W. crossing and from
R. & D. connection to frog on East side of warehouse. There has
been inspected and put in track 31,459 ties, 30 cypress post and
7 stringers for truck platforms, 70 kegs of spikes have been
purchased, 21 of this number have been used in new work.
Nearly all the old iron rails have been used in the construction
of new work, and all the steel rails, save a few for cases of emer-gency.
Have shipped as per instruction :—7,500 lbs. of old iron
chunks, 6,800 lbs. old fish plates, 108 tons of old iron rails, 17
tons and 1,730 lbs. of light steel rails.
I would recommend the punching fast as practicable all an-
ROAD MASTER'S REPORT.
gle-plates in centre that are now in track from Batchelor's Creek
to Goldsboro. They were intended for suspended joints, and we
having adopted the joints on ties, and so laid track, I find that no
matter how tight the spikes are driven on rail, it is creeping
down grades and to openings wherever to be found, so that many
joints are not Avhere they were put by six inches. All the angle-plates
from Batchelor's Creek to Morehead city are punched in
centre so that the rails remain where they were placed. I would
recommend that the gravel train be put on for 2 months—Sep-tember
and October. AVe are now using nothing but good ties,
and the road is being benefitted. There will be needed the next
year 35,000 ties to keep track in good condition. I consider
bridges, culverts, cattle-guard and road-bed in a safe condition.
While many miles of track has been raised and short swing taken
out, yet much is to be done, especially train work, before we can
have a perfect track. The warehouse platforms at Goldsboro and
Caswell needs repairs ; all others are in good condition. Water-tanks
at Kinston and La Grange, and the scaffold of wind mill
at Morehead City need repairs; all others in good condition. The
tools on various sections, including hand and poll cars, are in fair
condition.
Very Respectfully,
A. B. Powell,
Road Master.
CHARTER
OF THE
Atlantic and North. Carolina
railroad Company.
Sec. 1. Be it enacted by the General Assembly of the State
of JS/orth Carolina, and it is hereby enacted by authority of
the same. That for the purpose of effecting a railroad commu-nication
from the Atlantic through the centre of the State, to
meet the Tennessee line, a company shall be and the same is
hereby incorporated, with a capital of nine hundred thousand
dollars, to be called the " Atlantic and North Carolina Rail-road
Company," to commence at the most eligible point on the
harbor of Beaufort, Carieret County, and thence near New-
Berne, Trenton and Kinston, so as to strike the Raleigh and
Wilmington Railroad, and to connect with the North Carolina
Railroad at its terminus near the town of Goldsboro ; and there
shall be and is hereby incorporated a company to be called
" The North Carolina and Western Railroad Company," with
a capital of three millions of dollars, to commence on the
North Carolina Bali road at or near the town, of Salisbury,
thence the most practicable route across the Blue Ridge to
the Tennessee line, wi ich companies when formed in com-pliance
with the conditions hereinafter prescribed, shall have
a corporate existence each as a body politic for the term of
ninety nine years
Sec. 2. Be it further enacted, That for the purpose of
forming said capital stock of the said Atlantic and North
Carolina Railroad Company, the iollowing persons be and the
same are hereby appointed commissioners: Isaac Ramsey, of
Carteret County; Alonzo T. Jerkins, of New Berne ; Lucien
Edwards, of Greene, and Elisha Pipkin, of Wayne; that it
shall be lawful to open books in the town of Beaufort, under
the direction of Richard Hall, M. F. Arendell, Capt. Duncan,
Josiah P. Bell, or any three of them; at New-Berne, William
G. Bryan, Charles Slover, John Blackwell, John R. Justice,
William H. Washington, George S. Stevenson, Moses W.
Jarvis, Edward R. Stanly, Fred P. Latham, Israel Disosway,
Hardy B. Lane, Sen'r, James C. Stevenson, Henry G. Cutler,
Alexander Miller, Alexander Mitchell ; at Trenton, Dr. John
Shackleford, C. Williams, Benjamin Askew, Joseph Kincey.
Sen'r, Joseph Whitty ; at Kinston, Thomas Woodley, John C.
Washington, Lonis Desmond, Nicholas Hunter ; at Goldsboro,
W. S. G. Andrews, W. B. Gulick, Tnomas Kennedy, William
B/Edmondson, W. K. Lane ; at Waynesboro, Richard Wash-ington,
Dr. Daniel Cogdell ; at Smithfield, William H. Wat-son,
William S. Ballenger, Thomas Lock hard, William H.
Morning, Linn B. Sanders ; at Raleigh, Romulus M. Saunders,
George W. Mordecai, W. W. Holden, John H. Bryan, Edward
Yarborough, Willis Whitaker; at Jacksonville, George Ward,
John M. Franks, John A. Averett, Owen Huggins; at Swans-boro,
David W. Sanders, R. McLane, C. E. Glover, Daniel
Hargate, Elijah Fergerson, Joshua Rawk and Henry H.
Harper, of Snow Hill ; James Williams, Henry Beat and
William A. Darden, of Greene County.
Sec. 3. Be it further enacted, That all who may hereafter
be authorized to open books for subscription of stock by the
commissioners herein appointed for that purpose shall open
said books at aay time after the ratification of the act, twenty
days previous notice being giyen in some one or more of the
public newspapers in this State, and that the said books,
when opened, shall be kept open for the space of thirty days
at least, and as long thereafter as i he commissioners first
above named shall direct, and tlur all subscriptions of stock
shall be in shares of one hundred dollars, the subscriber pay-ing
at the time of making such subscription five dollars on
each share thus subscribed, or by giving his promissory note
for that sum to the person authorized to receive such subscrip-tion,
and in case of failure to pay such sum or note, all such
subscriptions shall be void and of no effect; and upon closing
the books all such sums or rates as shall have been thus re-ceived
of subscribers on the first installment shall be paid to
the commissioners named in the second section of this act by
the person receiving them, and, for failure thereof, such per-son
or persons shall be liable 10 said general commissioners
before the organization of said company, and to the company
itself after its organization, to be recorded in the superior
court of law in the county where such delinquent resides, or
if he reside out of the State, then in any court of such State
having competent jurisdiction. The said general commis-sioners
shall haye power to call on and require all persons em-powered
to receive subscriptions at any time and from time to
time as a majority of them may think proper ; to make return
of the stock by them respectively received, and to make pay-ment
of all sums made by the subscribers ; that all persons re-ceiving
subscriptions of stock shall pass a receipt to the sub-
scriber for the payment of the first installment, as heretofore
required to be paid, and upon the settlement with the general
commissioners as aforesaid, it shall be the duty of the said
general commissioners in like manner to pass their receipt for
all sums of money thus received to the person from whom re-ceived,
and such receipts shall be taken and held to be good
and sufficient vouchers to the persons holding them.
Sec. 4. Be it further enacted, That it shall be the duty of
said general commissioners ro direct and authorize the keeping
open of books for the subscription of stock in the manner
above described until the sum of three thousand dollars shall
have been subscribed to the capital stock of said company, and
that as soon as the sum of three thousand dollars shall have
been subscribed and the first installment of five dollars per
share on said sum shall have been received by the general
commissioners as aforesaid, said company shall be regarded as
formed, and the said commissioners or a majority of them,
shall sign and seal a duplicate to that effect, with the names
of the subscribers appended, and cause one of the said dupli-cates
to be deposited in the office of the Secretary of State, and,
thenceforth, from the closing of the books for subscription as
aforesaid, the said subscribers to the stock shall form a body
politic and corporate in deed and in law for the purposes
aforesaid by the name and style of the " Atlantic and North
Carolina Railroad Company."
Sec. 5. Be it further enacted, That whenever the sum of
three hundred thousand dollars shall be subscribed in manner
and form aforesaid, the subscribers, their executors, adminis-trators,
and assigns, shall be and they are hereby declared to
be incorporated into a company by the name and style of
'"Atlantic and North Carolina Railroad Company" and by
that name shall be capable in law and equity of purchasing,
holding, selling, leasing and conveying estates, real, personal
and mixed, acquiring the same by gift or devise, so far as shall
be necessary for the purposes embraced within the scope,
object and intent of this charter and no farther, and shall
have perpetual succession, and by their corporate name may
sue and be sued, plead and be impleaded in any court of law
and equity in the State of North Carolina, and may use a
common seal, which they may alter or renew at pleasure, and
sh^ll have and enjoy all other rights and immunities which
other corporate bodies may and of right do exercise, and may
make all such by-laws, rules and regulations as are necessary
for the government of the corporation, or of effecting the ob-ject
for which it is created, not inconsistent with the constitu-tion
and laws of the United States and of this State.
Sec. 6, Be it further enacted, That notice of process upon
the principal agents of said company, or the president, or any
of the directors thereof, shall be deemed and taken to be due
and lawful notice of service of process upon the company, so
as to bring it before any court within the State of North Caro-lina.
Sec. 7. Be it further enacted, That as soon as the sum of
three hundred thousand dollars shall have been subscribed in
the manner and form aforesaid, ir, shall be the duty of the
general commissioners appointed under the second section of
this act, to appoint a time for stockholders to meet at the town
of New-Berne, in Craven County, which they shall cause to be
previously published for the space of thirty days, in one or
more newspapers, as they may deem proper ; at which time and
place the said stockholders in person or [by] proxy, shall pro-ceed
to elect the directors of the company, and enact all such
regulations and by-laws as may be necessary for the govern-ment
of the corporation and the transaction of its business.
The persons elected directors at this meeting will serve such
period, not exceeding one year, as the stockholders may direct
and fix at this meeting. The stockholders shall fix on The day
and place where the subsecjuent election of directors shall be
held; and such elections shall henceforth be annually made;
but if the day of annual election shall pass without any election
of diiectors, the corporation shall not therefore be dissolved,
but it shall be lawful on any other day to hold and make such
election in such manner as may be prescribed by a by-law of
the corporation.
Sec. 8. Be it further enacted, That the affairs of the com-pany
shall be managed and directed by a general board, to con-sist
of eight directors, to be elected by the stockholders from
among their number, at the first subsequent general annual
meeting, as prescribed in the seventh section of this- act, and
that no one shall serve as a director who is not a stockholder.
Sec. 9. Be it further enacted, That the election of directors
shall be by ballot, each stockholder having as many votes as he
has shares in the stock of said company, and the person having
a majority of all the votes polled, shall be considered as duly
elected.
Sec 10. Be it further enacted, That the president of the
company shall be elected by the directors from among their
own number, in such manner as the regulations of the company
shall prescribe.
Sec. 11. Be it further enacted, That at the first general
meeting of the stockholders to be called under section seventh
of this act, a majority of all the shares subscribed shall be
represented before proceeding to business, and if a sufficient
number do not appear on the day appointed, those who do at-tend
shall have power to adjourn from time to time, until a
regular meeting shall be thus formed, and at such meeting the
stockholders may provide by a by-law as to the number of
stockholders and the amount of the stock to be held by them,
which shall constitute a quorum for transacting business at all
subsequent regular or called meetings of stockholders and di-rectors.
Sec. 12. Be it further enacted, That in all elections and
upon all votes taken in any general meeting of the stock-holders,
upon any by-law or any of the affairs of the company,
each share of stock shall be entitled to one vote, and that any
stockholder in said company may vote by proxy, and proxies
may be verified in such manner as the stockholders by by-laws
may prescribe.
Sec. 13. Be it further enacted, That the general commis-sioners
shall make their return of the shares of stock sub-scribed
for the first general meeting of the stockholders, and
pay over to the directors elected at said meeting, or to their
authorized agent, all sums of money received from subscribers,
and for failure therefor, shall be liable to said company, to be
recovered at the suit of said company in any superior court of
law in this State, within the county where such delinquent or
delinquents may reside, and in like manner from said delin-quent
or delinquent's executor or administrators in case of his
or their death.
Sec. 14. Be it further enacted, That the board of directors
may fill all vacancies which may occur in their body during
the period for which they have been elected, and in the absence
of the president may fill his place by electing a president pro
tern., from among their number.
Sec. 15. Be it further enacted, That all contracts or agree-ments
authenticated by the president and secretary of the board
of directors shall be binding on the company without a seal, or
such a mode of authentication may be used as the company by
their by-laws may adopt.
Sec. 16. Be it further enacted, That the company shall
have power and may proceed to construct as speedily as pos-sible
a railroad with one or more tracts of the same width of
the North Carolina Railroad, to be used with steam power,
which shall extend from the most practicable point at or near
the town of Beaufort, in Carteret County, in the manner pre-scribed
in the second section of this act to the terminus of the
North Carolina Railroad, at or near the town of Goldsboro, in
the county of V ayne, and said company may use any section
of the railroad constructed by them before the whole of said
road shall be completed.
Sec. 17. Be it further enacted, That the said company shall
have the exclusive right of conveying or transporting of per-sons,
goods, merchandise and produce over the said railroad to
be by them constructed, at such charges as may be fixed on by
a majority of the directors.
Sec. 18. Be it further enacted, That the said company may.
when they see proper, farm out the right of transportation
over said railroad, subject to the rules above mentioned, and
the said company and every person who may have received
from them the right of transportation of goods, wares and pro-duce
on said railroad, shall be deemed a common carrier as re-spects
all goods, wares and merchandise entrusted to them for
transportation.
Sec. 19. Be it further enacted, That the board of directors
may call for the payment of the sums subscribed as stock in
said company in such installments as the interest of said com-pany
may, in their opinion require. The call for each pay-ment
shall be published in one or more newspapers in this
State for the space of one month before the day of payment,
and on failure of any stockholder to pay each installment as
thus recpiired, the directors may sell at public auction, on a
previous notice of ten days, for cash, all the stock subscribed
for in said company by such stockholders, and convey the?ame
to the purchaser at said sale ; and if said sale do not produce a
sufficient sum to pay off the incidental expenses of the sale and
the entire amount owing by such stockholders to the company
for such subscription of stock, then, and in that case, the whole
of such balance shall be taken and held as due at once to the
company and may be recovered of such stockholder, or his ex-ecutors,
administrators or assigns, at the suit of sail company,
either by summary motion in the court of superior jurisdiction
in the county where the delinquent resides, on a previous notice
of ten days to said subscriber, or by act'on of assumpsit in any
cour' of competent jurisdiction, or warrant before a justice of
the peace, when the sum does not exceed one hundred dollars,
and in all cases of assignment of stock before the whole amount
has been paid to the company, then for all sums due on the
stock both the original subscribers and the first and all subse-quent
assignees shall be liable to the company, and the same to
be recovered as above directed.
Sec. 20. Be it further enactei, That the debt of stock-holders
due the company for stock therein, either as original
proprietor or as first or subsequent assignee, shall be considered
as of equal dignity with judgments in the distribution of assets
of a deceased stockholder by bis legal representatives.
Sec. 21. Be it further enacted, That the said company shall
issue certificates of stock to its members, and said stock may be
transferred in such manner and form as may be directed by
the by-laws of the company.
Sec. 22. Be it further enacted, That the board of directors
shall, once in every year, make a full report on the state of the
company and its affairs, to a general meeting of the stock-holders,
and oftener if required ; and shall have power to call a
general meeting of the stockholders when the board may deem
it expedient ; and the company may provide in their by-laws
for occasional meetings being called, and prescribe the mode
thereof.
Sec. 23. Be it further enacted, That the said company may
purchase, have and hold in fee, for a term of years, any lands,
tenements, or hereditaments which may be necessary for said
road or the appurtenances therefor, or for the erection of de-positories,
store houses, houses for the officers, servants, or
agents for the company, or for work-shops or foundries to be
used for the said company or for procuring stone or other ma-terials
necessary to the construction of the road, or for effecting
transportation thereon, and for no other purpose whatever.
Se~. 24. Be itfurther enacted, That the company shall have
the right, when necessary, to construct the said road across or
along any public road or water-course : Provided, That the said
company shall not obstruct any public road without construct-ing
another equally as good and as convenient, nor without
making a draw in any bridge of said road, which may cross
navigable streams, sufficient for the passage of vessels navigat-ing
such streams.
Sec. "25. Be it further enacted, That when any lands or
right of way may be required by said company for the purpose
of constructing their road, and for the want of agreement as to
the value thereof, or for any other cause, the same cannot be
purchased from the owner or owners, the same may be taken
at a valuation to be made by five commissioners, or a majority
of them, to be appointed by any court of record, having com-mon
law jurisdiction, in the county where some part of the
land or right of way is situated. In making the said valuation,
the said commissioners shall take into consideration the loss or
damage which may accrue to the owner or owners in conse-quence
of the land or right of way being surrendered, and the
benefit and advantage he, she or they may receive from the
erection or establishment of the railroad or work, and shall
state particularly the value and amount of each, and the excess
of loss and damage over and above the advantage and benefit
shall form the measure of valuation of the said land or right of
way : Provided, nevertheless, That if any person or persons over
whose land the road may pass shall be dissatisfied with the
valuation of said commissioners, then and in that case the per-son
or persons so dissatisfied, or the president and directors of
the road may have an appeal to the superior court in the
county where the said valuation has been made, or in either in
which the land lies, when it may lie iiiimore than one county,
under the same rules, regulations and* restrictions, as in ap-peals
from judgments of justices of the peace; the proceedings
of the said commissioners, accompanied with a full description
of said land or right of way shall be returned under the hands
and seals of a majority of the commissioners to the court from
which the commission issued, there to remain a matter of rec-ord
; and the lands or right of way so valued by the said com-missioners
shall vest in said company so long as the same shall
be used for the purposes of said railroad as soon as the valua-tion
may be paid, or when refused, may have been tendered
;
Provided, That on application for the appointment of commis-sioners
under this section, it shall be made to appear to the
satisfaction of the court that at least ten days' previous notice
has been given by the applicant to the owner or owners of land
so proposed to be condemned, or if the owner or owners be in-fants,
or non compos mentis, then the guardian ot such owner
or owners, if such guardian can be found within the county, or
if he cannot be found, then such appointment shall not be
made unless notice of the application shall have been publis! ed
at least one month next preceding, in some newspaper printed
as convenient as may be to the court house of the county, and
shall have been posted at the door of the court house on the
first clay, at least, of the term of said court to which the appli-cation
is made : Provided, further, That the valuation provided
for in this section shall be made on oath by the commissioners
aforesaid, which oath any justice of the peace or clerk of the
court of the county in which the land or part of it lies, is l-ereby
authorized to administer : Provided, further, Thar the right of
condemnation, however granted, shall not authorize the said
company to invade the dwelling-house, yard, or burial-ground
of any individual without his consent,
Sec. 26. Be it further enacted, That the right of said com-pany
to condemn lands in the manner described in the 25th
section of this act shall extend to the condemning one hundred
feet on each side of the main track of the road, measuring from
the centre of the same, unless in deep cuts and fillings, when
the said company shall have power to condemn as much in ad-dition
thereto as may be necessary for the purposes of con-
structing said road ; and the company shall also have power
to condemn and appropriate lands in like manner for the con-structing
and building depots, warehouses, buildings for ser-vants,
agents and persons employed on the road, not exceeding
two acres in any one lot or station.
Sec. 27. Be it further enacted, That in the absence of any
contract or contracts with said company in relation to lands
through which said road or its branches may pass, signed by
the owner thereof, or by his agent, or any claimant, or any per-sons
in possession thereof, which may be confirmed by the
owner thereof, it shall be presumed that the land upon which
the said road or any of its branches may be constructed, to-gether
with a space of one hundred feet on each side of the
centre of said road, has been granted to the said company by
the owners thereof; and the said company shall have good
right and title thereto, and shall hold and enjoy the same as
long as the same shall be used for the purposes of said road;
and no longer, nnless the person or persons owning the said
land at the time that part of said road which may be on the
said land was finished, or those claiming under him, her, or
them, shall apply for an assessment of the value of said land as
hereinbefore directed, within two years next after that part of
the said road was finished ; and in case the said owner or
owners, or those claiming under him, her, or them, shall not
apply within two years next after the said part was finished,
he, she, or they shall forever be barred from recovering said
lands, or having any assesment or compensation therefor;
Provided, That nothing herein contained shall affect the rights
of ferns coverts, or infants, until two years after the removal of
their respective disabilities.
Sec. 28. Be ft further enacted, That all lands not heretofore
granted to any person, nor appropriated by law to the use of
the State, within one hundred feet of the centre of said road
which may be constructed by the said company, shall vest in
the company as soon as the line of the road is laid out through
it, and any grant of land thereafter shall be void.
Sec. 2!). Be it further enacted, That if any person shall in-trude
upon the said road by any manner of use thereof, or of
the rights and privileges connected therewith, without per-mission,
or contrary to the will of said company, he, she, or they
may be indicted for a misdemeanor, and upon conviction there-of,
fined and imprisoned by any court of competent jurisdiction
in the State.
Sec. 30. Be it further enacted, That every obstruction to
the safe and free passage of vehicles on the said road or its
branches, shall ,be deemed a public misdemeanor, and may be
10
abated as such by any officer, agent, or servant of said com-pany,
and the person causing such obstructions may be
indicted and punished for erecting a public nuisance.
Sec. 31. Be it further enacted, That the said company shall
have the right to take at the store-houses they may establish,
or annex to their said railroad, or the branches thereof, all
goods, wares, merchandise, and produce intended for transport-ation,
prescribe the rules of priority and charges, and receive
such just and reasonable compensation for siorage as they by
rules may establish, (which they shall cause to be published,)
or as may be fixed by agreement with tbe owner, which may be
distinct from the rules of transportation : Provided, That the
said company shall not charge or receive storage on goods,
wares, and merchandise, or produce, which may be delivered
to them at their regular depositories for immediate transporta-tion
; and which the company may have power to transport
immediately.
Sec. 32. Be it further enacted, That the profits of the com-pany,
or so much thereof as the general board may deem advis -
able, shall, when the affairs of the company will permit, be
semi annually divided among the stockholders in proportion
to the stock they may own.
Sec. 33. Be it further enacted, That it shall be lawful for
any incorporated town or county near or through which said
railroad may pass, to subscribe for such an anion
n
f of stock in
said company as they shall be authorized to do by the inhabi-tants
of said town, or the citizens of such county, in manner
and form as hereinafter provided.
Sec. 34. Be it further enacted, That the corporate authori-ties
of such town, or the justices of the peace of such county, a
majority of the justices of the county concurring to make an
order requiring the constable of such town, and the sheriff of
such county, at such time and on such notice as they shall
direct, to open a poll and take the sense of the voters of such
toAvn qualified to vote for town officers and of the voters of
such county qualified to vote for members of the House of
Commons of the General Assembly, whether the officers of
said town, and the justices of the peace of said county, shall
subscribe to the stock of such company for such sum as the
order shall propose, and the constable shall make return of
the number against it, and the sheriff shall, in like manner,
make return as to the vote in his county to the first court
thereafter to be held for such county, and it shall be the duty
of the sheriff to notify each justice of said county to attend at
the court house, to which he may make his returns of said poll.
Sec. 35. Be it further enacted, That if upon the return of
11
such constable, and of such sheriff, it shall appear that a ma-jority
of the qualified voters of such town, and by the return
of the sheriff that a majority of the qualified voters of such
county voting upon the question, are in favor of the subscrip-tion,
the corporate authorities of such town, and the justices of
such county shall appoint an agent to make the subscription
in behalf of such town and county, to be paid for in bonds of
such town and county, and on such time as shall be agreed on
by said town officers and the justices of such county.
Sec. 36. Be it further enacted, That for the purpose of pay-ing
the quotas on said stock as may be called for, or the in-stallments
on such subscriptions as may fall due, the town
authorities and the justices of the county shall have power to
appoint an agent or agents to negotiate a loan or loans for
and in the name of such town and county, and it shall be the
duty of the authorities of such town, and of the justices of
such county, to levy such taxes annua' ly on the persons, lands
and other property within such town andcounty as may be
sufficient to pay the amount of such loan or loans, and the
interest thereou, and as said town authorities and justices of
such county shall deem necessary and proper, and to make
such order or orders as shall be deemed necessary for the due
collection and payment of the same, and the stock subscribed
on behalf of such town and county shall stand pledged for the
payment of the loan thus authorized to be contracted.
Sec. 37. Be it further enacted, That the right to the stock
in the company hereby authorized to be subscribed, shall vest
in the town and county making such subscriptions, and the
corporate authorities of said town, and the justices of such
county, shall have power from time to time to appoint a proxy
to represent the stock in the meeting of the stockholders of the
company, and also an agent to collect the dividends on such
stock, and when collected to apply the same to the payment of
the bonds and interest negotiate as aforesaid.
Sec. 38. Be it further enacted, That the Governor, as pres-ident
ot the board ot internal improvements be, and is hereby
authorized and required to make the necessary arrangements
with the president and directors of the North Carolina
Railroad, for a survey of the most practicable route for a rail-road,
from i he most eligible point in the harbor of Beaufort by
New-Berne, Trenton and Kinston to the terminus of the North
Carolina Railroad, at or near Goldsboro, and that the sum of
four thousand dollars is hereby appropriated to cover the
State's portion of the expenses of said survey, to be paid by the
public treasurer ; and that it shall be the duty of the chief
engineer, who shall make such survey, to cause an accurate
12
estimate to be made of the probable cost for the construction
of said railroad, and that he report the same to the board of
internal improvements.
Sec. 39. Be it further enacted, That the president and di-rectors
of the several banks of this State, by and with the con-sent
of a majority of the stockholders thereof respectively, shall
have power and authority to subscribe in the name and on be-half
of their corporations respectively, for such an amount of
the capital stock of the Atlantic and North Carolina Railroad
Company as they may think proper.
Sec. 40. Be it further enacted, That in case of domestic
invasion or insurrection, the company shall transport the
troops and munitions of war of the State free of c\ arge.
Sec. 41. Be it further enacted, That the following officers
and servants, and persons in the actual employment of said
company, be, and they are hereby exempt from the performance
ol jury and ordinary military duty : the president and treasurer
of the board of directors, and the chief and assistant engineers,
the secretaries and accountants of the company, keepers of the
depositories, guards stationed on the, road to protect it from
injury, and such persons as may be working locomotives, en-gines,
and traveling with the cars for the purpose of attending
to the transportation of produce, goods, and passengers on the
lands.
13
A M K N D M bv N T S
TO THE
CHARTER,
Passed at the Sess; on of the Legislature for l854-'55.
A Bill to amend an Act entitled, An Act to incorporate the
Atlantic and North Carolina, and the JS/orth Carolina and
Western Bailroad Company.
Sec. 1. Be it enacted bv the General Assembly of the State of
North Carolina, and it is hereby enacted by the authority of
the same, that the act incorporating the Atlantic and North
Carolina Railroad Company be and the same is hereby amended
in the following particulars : a majority of the stockholders, in
general meeting concurring, to-wit : the capital stock of said
Atlantic and North Carolina Eailroad Company shall be six-teen
hundred thousand dollars.
Stc. 2. Be it further enacted, That the said company at any
time may increase its capi'al to a sum sufficient to complete
said road, by opening books for new stock, or selling such new
stock, or by borrowing money on the credit of the company,
and on die mortgage of its charter and works, and the manner
in which the same shall be prescribed by the stockholders at a
general meeting.
Sec. 3. Be it further enacted, That the affairs of the com-pany
shall be managed and directed by a general board, to con-sist
of twelve directors, eight of whom shall be appointed
annually by the board of internal improvements, and may be
removed in like'manner, and four to be elected by the stock-holders,
at their next general meeting, provided no one but a
stockholder of at least five shares shall serve as a director.
Sec. 4. Be it further enacted, That in all elections and upon
all questions taken in any general meeting of the stockholders,
in which a vote by stock may be had, the vote shall be taken
according to the following scale: the owner of one or two
shares s v all be entitled to one vote; the owner of not less than
three and not more than four shares shall be entitled to two
votes ; the owner of not less than five nor more than six shares
shall be entitled to three votes; the owner of not less than
seven nor more than eight shares, to four votes ; the owner of
14
not less than nine nor more than eleven shares, to five votes
;
the owner of not less than twelve nor more than fifteen shares,
to six votes; the owner of not less than sixteen nor more than
twenty shares, to seven votes; the owner of not less than
twenty-one nor more than twenty-six shares, to eight votes;
the owner of not less than twenty-seven nor more than tlirty-three
shares, to nine votes ; the owner of not le:s ti an thirty
-
four*nor more than forty shares, to ten votes; and the owner
of every ten shares above forty shall be entitled therefor to one
vote, Provided, That no individual or company, holding stock
in said company, shall be entitled to more than two hundred
votes, except the State, which shall be entitled to three hundred
votes ; but should the State hereafter transfer any part of its
stock, then its vote shall be in proportion to what may be re-tained,
as compared with the amount now represented in said
corporation ; the State shall at general meetings of stockhold-ers
be represented by an agent or proxy appointed by the Gov-ernor,
and such agent or proxy shall be entitled in the general
meetings aforesaid to vote according to the above scale on all
questions except in the election of directors by the individual
stockholders.
Sec. 5. Be it further enacted, That w: enever it shall appear
to the board of internal improvements of this State, by a cer-tificate
under the seal of said company, signed by their treasu-rer,
and countersigned by their president, that one-third of the
capital stock of said company has been subscribed for and
taken by solvent individuals or companies, and that at least
three hundred thousand dollars of said stock has been paid
into the hands of the treasurer of said company, 'he said board
of internal improvements shall be authorized and recpiired to
subscribe on behalf of the State for two-thirds of the capital
stock of said company, and the subscription shall be paid in
the following manner to-ivit : The one-fourth part as soon as
the said company shall commence work, and one-fourth part
thereof every six months thereafter, until the whole subscrip-tion
in behalf of the Sta'e shall be paid. Provide I : The treas-urer
and president of said company shall, before they receive
the aforesaid installments, satisfactorily assure the board of
internal improvements, by certificates, under the seal of said
company, that an amount of the private subscription has been
paid in equal proportion to the payment required of the State.
Sec. 6. Be it further enacted, That in case the present Leg-islature
shall not provide the necessary and ample means to
pay the aforesaid installment and the stock subscribed for on
behalf of the State, as provided for in the fifth section of this
act, in that event, the board of internal improvements is hereby
15
authorized and empowered to borrow on the credit of the State
to the amount of two-thirds of the capital stock of said com-pany,
as the same may be needed by the requirements of this
act.
Sec. 7. Be it further enacted, That in case it shall become
necessary to borrow the money by this act authorized, the pub-lic
treasurer shall issue the necessary bonds with coupons
attached, signed by the Governor, and countersigned by the
public treasurer, and sealed with the great seal of the State,
and made payable to , or bearer, and the principal shall
be payable at the end of thirty yeais from the date of the same,
and coupons of interest payable semi-annually in such form
as may be prescribed by t e public treasurer, shall be attached
to the bonds, and the bonds and coupons attached shall be
made payable at such bank or place in the city of New York,
or at the office of the public treasurer in Raleigh, as he, the
public treasurer, may think proper. Provided, however, that
no such bonds shall be issued for a sum less than five hundred
dollars, and no bond shall be sold for a less sum than par value,
and it shall be the duty of the public treasurer to enter in a
book to be kept for that purpose, a memorandum of the bonds
issued by virtue of this act, the number, date of issue, when
and where payable, to whom issued, and to whom sold, and at
what premium, if any, the same was sold by him.
Sec. 8. Be it further enacted, That the comptroller shall
regis' er the said bonds at large in a book, to be kept by him
for that purpose, and shall charge the public treasurer with
the amount thereof, and also with all such sums, if any, as the
public treasurer may obtain by way of premium on the saie of
such bonds, an account of which the public treasurer shall
render to the comptroller as soon as negotiations from time to
time for the sale of such bonds are closed.
Se^. 9. Be it further enacted, That if it shall become nec-essary
to issue the coupon bonds aforesaid, the public treasurer
shall advertise in one or more newspapers, as he may think
best, and state in the advertisement thereof that said bonds
have coupons attached, and invite sealed proposals for such
amounts of the capital stock owned by the State in said com-pany
as may be wanted at any one time, and it shall be his
duty to accept those terms which may be most advantageous
to the State: Provided, That in no event shall any of the
coupon bonds be sold for less than their par value, and any
premium which may be obtained on the sale of said coupon
bonds shall be placed in the public treasury and used as other
public funds in the payment of interest on the debts hereby
created, or shall be- applied to a sinking fund which maybe
established by the General Assembly.
K>
Sec. 10. Be it further enacted, That as security for the re-demption
of said certificates of debt, the public faith of the
State of North Carolina is hereby pledged to the holders
thereof, and in addition thereto all the stock held by the State
in the Atlantic and North Carolina Railroad Company hereby
created shall be pledged for that purpose, and any dividends ot
profit which may from time to time be declared on the stock
held by the State aforesaid, shall be applied to the payment of
the interest accruing on said coupon bonds ; but, until such
dividends of profit may be declared, it shall be the duty of the
treasurer, and he is hereby authorized and directed to pay all
such interest, as the same may accrue, out of any moneys in
the treasury not otherwise appropriated.
Sec. 11. Be it further enacted, That the following officers,
and servants, and persons in the actual employment of the said
company are hereby exempted from the performance of jury
and ordinary militia duty: The president and treasurer of the
board of directors, and chief and assistant engineers, the Sec-retary
and accountant of the company, keepers of depots,
guard stationed on the road to protect it from injury, and
such persons as may be working the locomotive engines and
traveling with cars for the purpose of attending to the trans-portation
of produce, goods, and passengers on the road.
Sec. 12. Be it further enacted, That the directors to be ap-pointed
by the board of internal improvements shall not enter
upon their duties as members of the board of directors before
the next annual meeting of the stockholders after the subscrip-tion
made by the State in the manner by this act prescribed.
Sec. 13. Be it further enacted. That nothing contained in
this act shall be so construed as to prevent crossing of or in-tersection
of any other railroad authorized by the (reneral
Assembly with the aforesaid Atlantic and North Carolina
Railroad, and at such point or points to erect the necessary
buildings for receiving and forwarding produce, merchandize,
passengers, &c, to be transported on such intersecting road or
roads.
Sec 14. Be it further enacted, That this act shall be in
force from and after its ratification.
17
BY-LAWS
OF THE
^tlaqtic ai}d Nortfy Carolina
RAILROAD GOMPANY.
MEETING OF THE STOCKHOLDERS.
1. The general annual meetings of the Stock-holders shall
be held on the 4th Thursday in September in each and every
year until otherwise ordered.
2. The President or any five Directors, or any number of
Stock-holders representing one-third of the individual stock,
shall have power to call occasional meetings of the Stock-holders
at such time and place as he or they may think proper,
first giving twenty days' notice thereof in two or more news-papers
published in the city of New-Berne.
3. At least ten individual Stockholders, represented either
in person or by proxy, and holding not less than a majority of
the stock subscribed by individuals together with the State
proxy, shall be necessary to constitute a quorum for the trans-action
of business.
4. At every general annual meeting seven Stockholders
shall be elected by the Stockholders who shall constitute a
committee to verify proxies at the ensuing meeting, and it shall
be the duty of the Secretary to prepare for the use of such
committee an alphabetical list of the Stockholders entitled to'
vote, and the number of shares held by each, as also the num-ber
of votes to which each may be entitled.
5. Notice of the general annual meetings of the Stockhold-ers,
shall be published by the Secretary at least twenty days
previous thereto, in one or more newspapers.
6. The proceedings of the Stockholders at all their meetings
shall be recorded by the Secretary of the Company in a well-bound
book to be kept for that purpose ; and he shall also,
keep a file of the published proceedings.
7. Stockholders of this Company, having first obtained a
.8
Stockholders ticket, with their immediate families going to,
and returning from the meetings of the Company, may travel
over the road free of charge to and from the place of meeting.
DIRECTORS.
1. The Directors on the part of the individual Stockholders,
shall be elected at the general annual meetings, and shall con-tinue
in office until the next general annual meeting, and on
failure to elect Directors at such meeting, the President and
Directors then in office shall continue to exercise their respect-ive
offices until their successors shall be elected.
2. On failure of tbe Stockholders to elect Directors as pro-vided
by law, the Chairman of the Stockholders then assem-bled,
shall adjourn the meeting from time to time, and give
notice thereof until a proper meeting can be held, and an
election made, and on failure of the Chairman, from any cause,
to adjourn or appoint such meeting and give the necessary no-tice,
the acting President of the Company, or any two acting
Directors shall make the call and give the necessary notice.
3. The Board of Directors shall meet at least once in two
months, at New-Berne, or at such other place as they may
direct, and the President shall be at liberty to convene the
Board as much ofrener as the interest of the Company may
require.
4. The Directors shall keep a record of their proceedings
;
shall have power to establish a common seal with suitable de-vices,
and to alter the same at pleasure, to ascertain and define
the duties of the officers, clerks and servants of the Company,
and direct them in the performance thereof, and to dismiss
from the service of the Company any officer or agent, clerk or
servant, whenever in their opinion the interest of the Company
may require.
5. The Directors shall appoint all officers or agents of the
Company. Employees shall be appointed by the President
and their appointments shall be submitted to the Board of
Directors at the next meeting thereafter for approval, ar-d the
compensation of all such officers shall be fixed by the Board
of Directors.
6. Seven members of the Board shall constitute a quorum
for the transaction of business, and each Director shall receive
as compensation for his services ($5) five dollars for each day
he may be so engaged, with the privilege of the road for him-self
and his own immediate family.
7. No loan, either permanent or temporary, shall be made
by the President or any other officer of the Company, unless
authorized or directed by at least seven members of the Board
of Directors.
/
HI
8. No Director shall, while acting as such, fill any office in
the gift of the Company, nor shall any Director be allowed to
act as agent cr counsel for parties having claims or demands
to be passed upon by the Board of Directors.
PRESIDENT.
1. The President shall be elected annually, by ballot, by a
majority of the whole Board of Directors, and out of their
number, and shall receive as compensation for his services an
annual salary of $1,800, over and above his necessary travelling
expenses incurred by order of the Board of Directors, on busi-ness
of the Company.
2. The President shall have the general supervision and
control of all the other officers of the Company, and shall pre-scribe
their duties, unless otherwise provided for. He snail
carefully examine into the performance of their duties, and
from time to time report to the Directors all and any matters
touching the interest of the Company which shall come to his
knowledge. He may at any time when the Board is not in ses
sion, suspend any officer or dismiss any servant, but at the next
meeting he shall report such facts and the reason for so doing.
3. The Presidenr shall conduct the general correspondence,
sign documents in the name of the Company, keep the seal of
corporation, and with the consent of a majority of the Direct-ors,
shall affix the same to all conveyances and other instru-ments
to which the attestation of the seal may be necessary,
and keep safely the bond of the Secretary and Treasurer.
4. It shall be the duty of the President to see that proper
accounts are kept by all the subordinates, and reports made
monthly so as to show
:
1st.—Amount of temporary or permanent loans made.
2nd.—Income of the Road from freight, passengers, &c.
3rd —Income from other sources.
4th.—Current expenses of the Road.
5th.—Debts paid and whether old or new.
6th.—Property or material purchased.
7th.—Property and other material sold or otherwise dis-posed
of.
8th.—Property and material on hand, with their estimated
value.
9th.—Property and material 'ost or destroyed.
10th.—Debts contracted or outstanding.
And the President shall report the same to the Board at
each regular meeting, who shall embody the substance thereof
in their annual report to the Stockholders.
20
There shall also be reported to the meeting of the Stock-holders,
a list of the persons in the employment of the Com-pany,
stating in distinct columns, the names, compensation
and duty : Provided, however, that the names of the hands on
the Road, in the depots and workshops, and upon the trains,
need not be stated, but in regard to them it shall be sufficient
to mention the number employed for each purpose, and their
compensation.
It shall be the duty of the President and Board of Directors
to set apart out of the first money received by the Treasurer,
not needed to defray the necessary daily expenses of the Com-pany
in running the road, a sufficient sum thereof to meet
promptly the interest due on the mortgage debt of this Com-pany.
That no contract for the assignment, sale or transfer of any
corporate right, franchise, or privilege of the Company shall
be made, until the question of sale or transfer shall have been
submitted to a vote of the Stockholders, and such sale or trans-fer
approved by a majority of the private Stockholders and the
State.
All accounts of the President of the Company, other than
for salary, shall be passed upon and approved by the Board of
Directors before the same shall be paid by the Treasurer.
The President of this Company shall receive a salary at the
rate of $1,800 per annum, to be paid monthly, and the Secre-tary
and Treasurer a salary at the rate of $1,200 per annum,
to be paid monthly, until the further action of the Stockhold-ers
of this Company.
SECRETARY AND TREASURER.
1. The offices ol Secretary and Treasurer shall be combined
until the Board of Directors shall deem it necessary to separate
them.
2. The Secretary and Treasurer shall also be appointed an-nually
by the Board of Directors, and shall give bond in the
sum of $40,000, with security, to be approved by the Board.
3. It shall be the duty of the Treasurer to take charge of,
and safely keep all the moneys and moneyed securities of the
Company, to disburse the same under the direction and upon
the warrants of the President, and to take proper vouchers for
such disbursements. He shall deposit all moneys belonging
to the Company over and above the sum of two thousand dol-lars,
in such bank or place as may be designated by the Board
of Directors, provided they see fit so to designate, and shall
render to the President a monthly account of all his trans-actions,
and also an annual report to the Stockholders.
21
4. He shall record the proceedings of the Board and of the
Stockholders' meetings, and shall take charge of all the books,
deeds, official bonds, and other papers of the corporation, not
pertaining to other officers, or otherwise provided for.
6. The Secretary shall be the principal book-keeper of the
Company, and shall keep all the individual and consolidated
accounts of the corporation, and, in regard to the receipts and
expenses of the Board, he shall keep, in detail, the several
items of income and expenditure, so as to show the amount of
each.
6. That the salary of the Secretary and Treasurer be reduced
to $1,200.
COMMITTEE OF FINANCE.
1. There shall be a Committee of Finance, consisting of five,
three of whom shall be appointed by the Stockholders at each
annual meeting, and two by the Board of Directors, whose duty
it shall be to examine the accounts and vouchers of the Treas-urer,
the books of the Secretary and other officers, meet quar-terly,
and report their condition at the meetings of the Board,
and also to report to the general meeting of the StocKholders,
such facts and suggestions as to the state of the accounts and
the general ficancial condition of the Company as they may
think proper. Any three of this Committee shall constitute a
quorum. That the members of such Committee shall each
receive five dollars per day for his services while actually en-gaged
in such examination, with the privilege of the Road for
his own travel; and said Committee shall have further p >wer
to examine all accounts, vouchers, papers and books of the
Secretary and Treasurer and other officers of this Company,
from the date of the incorporation of this Company, and to
call for and have furnished to them any and all statements
relative to the receipts and disbursements of money, from what-ever
sources derived, and to whatever purposes applied, and all
explanations relating to the finances and the financial condi-tion
of this Company they may deem it necessary to have.
REPORTS
Tie Annual reports of the President and Directors, of the
Treasurer, and Committee of Finance, shall be prepared and
published for the annual meeting of the Stockholders, and
shall be disposed of as the Stockholders direct.
PROXIES.
1. Proxies shall be in writing, signed by the parties, and
22
may be general or special, and none but a Stockholder shall be
proxy: Provided, No proxy shall be accepted by the Proxy
Committee, and that no vote by proxy shall be allowed in any
Stockholders meeting unless said proxy shall be accompanied
by an affidavit made by the al eged owner of said stock before
some one competent to administer oaths by the laws of the
State of North Carolina, stating all the facts as to the true and
bonaxfi.de ownership of said stock, and that no person ot> er than
those stated, are interested in said stock, either directly or in-directly.
Provided, That tl is shall not apply to the State or
to counties holding stock.
CONTRACTS.
1. Contracts shall be made under such rules and regulations
as the Directors shall prescribe, and when signed by the Pres-ident,
shall be binding on the Company, either with or with-out
the seal of the corporation.
2. No contract shall be considered as binding on the Com
pany, unless ratified or approved by the President or Board of
Directors.
3. Neither the President nor any Director nor any other
officer nor employee of this Company shall during the term
of his office, or service, be interested either directly or indirectly
in any matter of contract with the Company, whereby he or
they shall or may derive any pecuniary benefit, and any one
who shall become so interested shall forfeit his office or place.
CERTIFICATE OF STOCK.
The form of Certificates of Stock shall be as follows :
Atlantic & North Carolina Railroad Company.
No. Shares.
Be it known that of
is entitled to shares in the Atlantic & North
Carolina Railroad Company, transferable by the said
, either personally or by attorney, only at
the office and on the books of said Company.
Witness, , President of the said Atlantic & North
Carolina Railroad Company, at under the seal of the
corporation, this day of A. D., IS
23
TRANSFERS.
1. The stock sha'l be transferred either in person or by at-torney,
on the books of the Company to be kept by the Secre-tary
for that purpose, which book shall be closed 30 days before
the general meeting of the Stockholders in each year, and shall
continue closed until after such general meeting.
2. Powers to transfer shall be signed by the party in the
presence of a competent witness, and attested by the same, and
said power shall be filed in the office of the Secretary of said
Company.
That no person shall pass free over this Road unless author-ized
by the By-Laws of the Company or resolution of the
Stockholders in general meeting, or by a majority of the
Board of Directors. Provided, that the President may pass
the officers and employees of this Company, the officers and
employees of certain Railroad Companies, Telegraph, Express
and Steamship Companies, which reciprocate similar courtesies
with this Company. All free passes shall be signed by the
President.